The Glasgow-based company reports net sales dropped three per cent to £22.2 million and net profits dropped 12 per cent to £2.5 million for the 12 months to June 30.

Drambuie said the UK market was a “star performer”, with sales up 17 per cent year on year to a net sales value of £3.7 million.

On an operating level, profits were down five per cent, pre-exception items, on the previous year to £3.52 million (2012: £3.72 million).

The company said operating profit pre-exceptional items and eliminating exchange rate gains, were up five per cent to £3.37 million.

Included in exceptional items are foreign exchange movements and legacy lease agreements on some properties liked to a former subsidiary car business.

Pre-tax profits dipped 10 per cent on the previous year to £3.44 million (2012: £3.8 million).

Sales into the European market were flat on the previous year at £10 million, though sales decline in southern Europe are reported to have now levelled out, with sales in the region down by one per cent on the previous year.

Net sales to the America's dropped to £9.2 million (2012 £9.9 million) and rest of world sales dipped to £2.8 million (2012: £2.92 million).

Drambuie said it continues operate on a debt free basis and during the last financial year recruited a new senior regional director to lead the US business – its largest individual market.

The company now has six brand ambassadors in the key cities of New York, Boston, San Francisco, Denver, Portland and Austin.

Drambuie said sales in emerging investment markets grew by 34 per cent last year and new distributors were secured in the high growth spirit markets of Africa, specifically Nigeria, Kenya and Angola.

The company said it is also continuing to push into the emerging Asian markets and had spearheaded a campaign roll-out in Vietnam, the results from which were “very encouraging”.

Chief executive Michael Kennedy said: “Overall, this has been a positive year in the company’s quest to rebuild the Drambuie brand and we are in a good position to make progress in the forthcoming year.”